(In 1970, U.S. crude oil production was at an all-time high of 9.637 million barrels per day---please see table and Figure 1. above. Also, please see my post "United States: Domestic Oil Production Reversed Decades-Long Decline in 2009 and 2010," here. And in a speech at Georgetown University in Washington, March 30th, President Obama said, "Last year [i.e., 2010], American oil production reached its highest level since 2003, and for the first time in more than a decade [last time 1997 - 49% -- D.R.], oil we imported [net imports of both crude oil and refined products -- D.R.] accounted for less than half the liquid fuel we consumed [i.e., 49% -- D.R.]."---please see table above and my post "US to Find 'More Oil at Home,' While Cutting Consumption: President Obama," remarks below, here. Currently, the United States still relies heavily on imported oil. In 2010, it imported 9.163 million b/d of crude oil and nearly 2.6 million b/d of refined products. Half of all U.S. net imports (imports minus exports) of liquid fuels, i.e., net imports of crude oil and petroleum products, etc., in 2010 came from the Americas---please see my post "Half of U.S. Liquid Fuels Net Imports in 2010 Came from the Americas," here. Moreover, please see our post "United States: Top 8 Crude Oil Producing States, 2006-Feb.2011," and U.S. oil reserves in our post "World's Top 22 Proven Oil Reserves Holders," here. Update: please see my post "EIA Expects Higher U.S. Crude Production," UPI, Mar 7, 2012. Update 2: North Dakota passed Alaska in March 2012 to become the second-leading state in
crude oil production, trailing only Texas. Recent advancements in horizontal drilling and hydraulic fracturing in North Dakota's Bakken shale play as well as other shale plays, such as South Texas Eagle Ford shale, have led to an increase in U.S. oil output. For a detailed account of North Dakota's oil production and its recent oil boom, please see my post "North Dakota Tops Alaska in Oil Production, Trailing Only
Texas," including remarks. Furthermore, please see EIA data on weekly U.S. field production of crude oil, Jan 7, 1983 - Nov 30, 2012. -- D.R.)